ANZ Group Holdings (ASX:ANZ) has posted a mixed financial report on Thursday with its Net Interest Margin (NIM) down -2bps to 1.56%.
When it comes to the big 4 banks, the NIM is what analysts are keen to keep an eye on; a decline of -2bps effectively represents a flattish read – in line with cash profits of A$3.5B.
That read too, was flat vs 1HFY24. Ongoing competition among the banks for mortgage market share has led to a partial headache for the sector, and when it comes to ANZ, the bank hasn’t been a beneficiary of the same ‘safe haven’ thinking responsible for CBA’s recent outperformance.
What does that tell us? When it comes to fundamentals, ANZ is in the same place it was this time last year. For some that won’t be an issue, but more ambitious traders may rotate out of the stock.
Still, as a big 4 bank, its share price will be fine.
ANZ’s share price has already shaken off the impact of the April 2 market shock that spread around the world. (Unsurprising, then, the bank pointed to heightened geopolitical volatility in its report.)
Also worth noting is the company’s own media relations chief interviewed the CEO and CFO, transcripts of which were part of ANZ’s newsflow bundle on Thursday. That’s definitely a kind of analyst call, I suppose.
ANZ last traded at $29.98/sh.
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